Timios National Corporation Files Second Quarter Results

ARLINGTON, Va., Aug. 13, 2013 (GLOBE NEWSWIRE) -- Timios National Corporation (OTCBB:HOMS), a national provider of real estate services to banks, financial institutions and mortgage lenders reported its second quarter financial results in its Form 10Q, filed August 12, 2013, for the three and six month periods ended June 30, 2013.

Revenue for the three months ending June 30, 2013 was $8.5 million as compared to $4.5 million for the three months ended June 30, 2012, a 86% increase. Net income was $329K or $0.14 per share for the three months of 2013 compared to a loss of $428K or $3.92 per share for the same period of 2012. On a fully diluted basis earnings per share for the current quarter was $0.03 as compared to a loss of $3.92 per share in 2012.

Revenue for the six months ending June 30, 2013 was $15.9 million as compared to $9.5 million for the six months ended June 30, 2012, a 67% increase. Net income was $395K or $0.17 per share for the six months ended June 30, 2013, compared to a loss of $546K or $5.01 per share for the same period of 2012. On a fully diluted basis earnings per share for the current year was $0.04 as compared to a loss of $5.01 per share in 2012.

At June 30, 2013 there were 2,351,599 common shares in issue and 2,564,487 preferred shares in issue, potentially convertible into an additional 8,432,476 common shares.

C. Thomas McMillen, HOMS Chairman and CEO, stated, "We are very pleased with our results for the three and six months in 2013. Our continued efforts to drive revenue and contain costs have served us well in these past six months." McMillen continued, "We are keeping a close watch on interest rates and we remain guarded for the balance of 2013."

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